» $250M or less

Bank of Bozeman

Creating a meritocracy in Montana

Ten years ago, when Clinton Gerst took on his role as president and CEO of Bank of Bozeman in Montana, he brought with him a dream. Having spent many years at a bank that was “too big to fail,” he wanted to work with a smaller organization, a place where he could create what he calls a “meritocracy.”

And based on the feedback from his team, he’s succeeded. As one respondent said in our survey, “This bank exemplifies what it means to invest in its people. It’s a place where employees feel seen, supported and empowered to grow, both personally and professionally.” 

Another added, “People are genuinely happy to be at work, and the cohesiveness between the different departments creates a non-segmented organization where everyone plays a role.” 

And a third: “Competitive benefits, work-life balance and a leadership team that truly listens set it apart from larger, corporate institutions.”

Gerst is delighted with what $100 million-asset Bank of Bozeman has managed to achieve in the past decade but acknowledges that it has taken a lot of work to get there. 

“When I came here, our relationship with the regulators wasn’t good, because we had problems with the financial crisis,” he says. “And my predecessor worked on trying to solve those problems. They cleaned up the balance sheet very well, and they got us out from under a consent order.” 

When Gerst came on board, he saw his role as not just continuing to improve the bank’s financial standing but also fixing company morale and changing their mindsets. 

“One of the first things I did was try to lead by example,” he explains. “For example, you have to have a closing officer to seal up a bank, set the alarm, check and make sure everything’s done. The president was typically outside of that rotation, was not even on the list. I said, ‘You know what? Put me on the list. I’m going to be in the rotation.’”

Today, everyone has small tasks that contribute to Bank of Bozeman’s greater welfare, like dropping off the recycling (Gerst’s personal task), loading the dishwasher after staff meetings and watering plants. The team also gets Angel Days, paid days off for volunteering in the community. A new bonus program rewards employees for their attitude and their ability to collaborate, as well as for the more traditional metrics like loan originations. 

“Obviously, we care about profitability,” Gerst says with a laugh, “but we want to be focused on relationship building, as well as near-term revenue achievements.”

Culture is all-important

The foundation of that relationship building is Bank of Bozeman’s welcoming culture. “We’re really trying to be a fun place to work,” Gerst says. “We all spend a lot of our lives at work, and so you want work to be a good, productive place where you’re held accountable, where it’s hard, where there are standards and you’ve got to push. But you’ve also got to enjoy the environment.” 

Gerst also believes it’s important to reinforce the feeling that the community bank is making a difference, whether it’s by helping the community with an affordable housing fund (“Bozeman is an expensive place to live”) or supporting small businesses who’ve been ignored by the big banks.

“If you focus on the fundamentals, the results will come,” he says. “We believe in being collaborative and cooperative, the ‘work hard, play hard’ kind of ethic. You need to be supportive of people. You need to have fun. We celebrate often—promotions, birthdays, milestones, accomplishments.”

What does celebration look like at Bank of Bozeman? “Oh, we have parties. We get food in. We have a lot of family-owned restaurants who are customers,” Gerst says. “I feel like if we’re going to bank a restaurant, we need to test the food out! And we’ll talk about our successes and how everyone contributes to success. Because success is not a one-person show, right? It requires a lot of different things to make something happen constructively. So, we celebrate it as a group.”

» $251M–$500M

Texas Traditions Bank

Family, fun and flexibility

When Ryan Whitzel and Keith Badough decided to set up their own bank in 2022, they knew it was something of a long shot. Coming out of the pandemic, de novo banks were few and far between. Plus, although they had many decades of experience between them, neither had been a bank executive.

This year, Texas Traditions Bank has grown to $380 million in assets, and in September, it came out of the de novo bank timeframe. 

One of the keys to getting their community bank right, say Whitzel and Badough, was choosing the right team. 

To that end, they approached 21 bankers they had worked with before and asked them to join their new venture. 

“We gathered a group of people that we knew already cared about each other and about their customers and had the type of work ethic and capabilities that we were looking for,” says Whitzel, CEO of Texas Traditions Bank. “And the most humbling thing was everybody that we asked to join us said yes.”

Hard work and care

When it comes to culture, he adds, it’s simple. “It’s hard work and care,” he says. “We knew what we had in the beginning, and that hasn’t changed. It’s a group of people that work hard for our organization. They work hard for their customers, and they care about each other.”

Badough, the community bank’s president, agrees, adding that everyone wears multiple hats and is prepared to jump in where needed. Both Whitzel and Badough started out as tellers, he says, so they understand the stresses that their team can face. They try to lead by example and keep an open-door policy. 

“The way Ryan and I pitched this when we opened the bank was, ‘Hey guys, we work for you. We want to hear from you,’” Badough says. “The thing we do ask is, if you’re going to come to us with an issue, please have a viable solution. The great thing about that is they truly take ownership in those solutions, and they’re not afraid to approach us with ideas, which we implement.”

Fun is important

Hard work is one thing, but according to Whitzel, fun is just as important. “You can have fun doing what we do,” he says. “Keith and I take banking and running a bank very, very seriously, but we do not take ourselves seriously. We like to joke around, and maybe it’s too much sometimes, but we never pass up an opportunity to make somebody laugh and put a smile on their face.”

Fun at Texas Traditions Bank can be anything from a game of ping-pong on a converted table in their offices to Astros games, fantasy football, live music events and Christmas parties. They’ve also tried to make the bank as visually welcoming as possible. 

“It almost feels homey when you walk in,” says Badough.

An emphasis on true work‑life balance

That homey feeling extends into work-life balance.

“I’m a father of two young boys, 12 and 14,” says Whitzel. “I haven’t missed any of their football games this year, and I think our employees know that if Keith or I found out that they missed a football game, or a recital, we would be disappointed. So, work-life balance, it’s critical.”

Reviewing the comments from their team, they’ve clearly been successful, with almost all team members citing a family atmosphere where they feel valued and respected. Here’s just one example: “The culture that has been fostered by executive management since the bank started has made this bank an extraordinary work environment, which translates to how well the bank has grown over the last three years. The bank truly cares about their employees and considers us all part of one team.”

» $501M–$750M

Peoples Bank & Trust

Rooted in care

At Peoples Bank & Trust, work and family blend together naturally. Located in Buford, Georgia, the $550 million-asset bank has built a workplace defined by loyalty and trust. With 52 employees and a single location, everyone knows each other and the customers they serve.

Heidi Davis, SVP of branch operations and human resources manager, says the bank’s local connections sit at the heart of its mission. “We live here, work here and give back here,” she says. “When you go to the ball fields, you see our name on the signs. Our customers know us by name, and we know them.”

That culture brought head teller Kaity Harris back after time away. “Every time I’ve had something come up, my manager has said, ‘Go take care of that. This will still be here when you get back,’” she says. “I have four kids, and I’ve worked other places, but nothing compares to this.” 

Harris says that same sense of care extends to customers. “People come in to talk about what’s going on in their lives,” she says. “We listen and celebrate with them. That’s what community banking means here.”

A culture that welcomes you home

Customer service specialist Cindy Rivera left Peoples Bank & Trust after three years to raise her third child, but she never lost touch with her coworkers. “One day, I drove through and someone asked if I’d come back,” she says. “I said yes, and it felt like I never left.” 

Rivera says that kind of warmth shapes how employees treat customers. “We’re happy here, and customers feel it. They tell us they love banking here.”

Ted Williams, president and CEO, credits previous bank presidents with shaping the values that still define Peoples Bank & Trust’s corporate culture. 

“Clayton Bartlett and Douglas Nichols laid the foundation,” Williams says. “They created an environment where people felt known, supported and encouraged to build a career. We’ve worked to keep that same spirit alive.”

Williams says the bank’s experience supporting employees through cancer battles has deepened its sense of care. “We’ve had employees and family members battle cancer,” he says. “People rally around them, wear shirts with pink ribbons, check in and pray together.”

That spirit also guides the community bank’s community contributions. “We invest in local schools and programs that help families,” Williams says. “Strong schools build strong communities, strong communities build strong businesses, and those businesses support banks like ours.”

Loyalty that stands the test of time

Over the past 18 months, Peoples Bank & Trust has navigated two major leadership changes. Longtime president Nichols retired after 24 years in the role and 40 years with the organization. This spring, former COO Jan Wells, who joined on the bank’s first day, stepped down after more than four decades of service. Together, they built the foundation that still defines the bank’s culture today. 

With just three presidents in 41 years and an unusually long average tenure, the community bank continues to stand out in an industry where many employees stay just a few years. Even with several longtime employees retiring recently, the average employee tenure still sits at 17 years (with many past the 20- and 30-year marks). 

“In an area with no shortage of opportunity, that kind of loyalty says a lot,” Williams says, “and really tells a story of how ‘sticky’ this place is.”

» $751M–$1B

Olympia Federal Savings

Putting people first

For more than a century, Olympia Federal Savings (OlyFed) has built its success by staying true to its community and people. 

With nine locations and just over $1 billion in assets, the 119-year-old institution has earned a reputation for putting people first—whether it’s the customers it serves, the colleagues who power its operations or the neighbors it supports across the South Puget Sound region.

This commitment drew James Vanderholm to join the team as CFO about 18 months ago. After years auditing financial institutions around the country, he had seen what separated banks that truly served their communities from those that only claimed to. OlyFed stood out. 

In fact, its culture of service and accountability was visible long before he ever walked through the doors. “You can tell when a bank truly walks the walk,” Vanderholm says. “Here, people and community come before profit, and it shows.”

Leading by example

Fifteen years ago, OlyFed’s CEO Josh Deck traded a life on the road for a community that felt like home. As a former bank examiner with the U.S. Department of the Treasury, he had spent years visiting financial institutions across the country, observing what made some banks thrive while others struggled to connect.

When Deck first visited Olympia Federal Savings, something stood out. The community bank’s focus on people, purpose and local progress was different from anything he’d seen. “OlyFed doesn’t try to grow past its communities,” he says. “We grow with them.”

That mindset continues to define the organization. Every decision ties back to the well-being of employees, customers and neighbors. “Our purpose is simple: Help our neighbors and support the place we all call home,” Deck says.

Fostering connection every single day

For Casey Kilborn, VP and director of business development, every morning at OlyFed begins with energy and connection. Teams gather in daily huddles to share updates, talk through business goals and check in with one another. 

“We make sure people feel excited when they come in,” he says. “Everyone greets each other, tells stories and starts the day together.”

Kilborn says that sense of teamwork extends beyond the office. As a longtime Olympia resident, he also coaches high school basketball, a role the bank has encouraged and supported for more than a decade. In fact, one of his former players now works at OlyFed’s Lacey branch. “It’s special to see those relationships come full circle,” Kilborn says. “It shows what kind of place this is.”

A culture of giving and growth

Over the past five years, Olympia Federal Savings has given more than $2 million to local causes, which is 10% to 20% of its annual profits. The community bank’s 115 employees also contribute more than 1,500 volunteer hours each year and hold leadership roles on more than 40 nonprofit boards.

But Ryan Betz, EVP and chief strategy and marketing officer, says OlyFed’s culture of service runs deeper than numbers. He shares stories of employees who go the extra mile, like a branch manager who spent her evenings after work teaching a new employee who had recently arrived in the U.S. how to drive. Another employee learned sign language to better serve a hearing-impaired customer.

“It’s just who we are,” Betz says. “People here look for ways to help. It’s not something we ask them to do. It’s what they want to do.”

OlyFed’s commitment to its employees is just as strong. Every employee participates in a profit-sharing program and receives full health coverage, reflecting a philosophy that shared success is more valuable than short-term gain. 

The community bank’s stability reinforces that approach: In 119 years, OlyFed has had just eight presidents—a testament to its consistency and dedication to its people. 

Transparency is another cornerstone of OlyFed’s culture. “We want every employee to have 100% transparency and understand what we’re doing and how decisions are made,” Betz says. “That’s helped build trust across the bank and confidence that leadership makes decisions in the best interest of customers and employees.”

» More than $1B

Peoples Bank

Just like home

Every employee at Peoples Bank can expect a phone call from CEO and chairman Larry Allen on their birthday. He doesn’t just give a quick birthday greeting, though. He sings the classic “Happy Birthday to You” song. 

That charming interaction exemplifies the relationship Allen has with the 165 employees at $1.1 billion-asset Peoples Bank in Lubbock, Texas.

“We’re a very close-knit group,” Allen says. “This is just not a place to go to work. We truly are family; we’ve been together a long time. I know all their kids.”

Family-like support

That family feeling is a key reason employees love working at Peoples Bank, according to respondents to the Best Community Banks to Work For staff survey.

“Peoples Bank is like a family,” wrote one employee. “Yes, we work together, but we genuinely care about each other as well. It is very common to know your coworker’s family and ask how they are doing. We are a community, which makes working together easy.”

Of course, that’s not the whole story. The community bank offers financial incentives such as twice-a-year bonuses, a 4% match on 401(k) contributions, profit sharing and 100% paid medical insurance. It’s also an “open books” company, meaning employees are always aware of the bank’s financial state. Leadership tends to promote from within and provide education and mentoring for employees who want to advance their careers. 

Another popular benefit is Peoples Bank’s employee stock ownership plan (ESOP). Allen estimates that more than 50% of Peoples Bank employees and nearly 90% of bank officers hold stock in the company, either through individual shares or through its ESOP.

“We have done everything we can to try to facilitate bank ownership,” Allen says. “I share with our people all the time, ‘It’s not your paycheck that increases your net worth; it’s your equity ownership in something.’ So the number one reason I encourage ownership is because it helps increase their net worth, but number two, we firmly believe that people make decisions differently when they’re owners, as opposed to just employees.”

Combined with the family vibe, all of these benefits add up to happy workers. 

“I have to say, I love coming to work and doing what I’m doing,” says Miranda Viljoen, vice president and branch manager of the 34th Street location in Lubbock. “There’s not a day that I’m like, ‘Oh, great, I have to go work.’ I love waking up and doing what I do.”

Mentoring pays off

Viljoen joined Peoples Bank as a teller 13 years ago, and she held that position for about two years before becoming a teller supervisor. She subsequently progressed to new-account representative and lending assistant before being promoted to her current position about three years ago.

Early in her career, Viljoen found a mentor in Andy Turner, who was her location’s branch manager until his retirement in 2022.

“Andy taught me to always be the kind person, because you never know what someone’s going through when they walk through that door,” Viljoen says, “and he taught me about accountability. One of the pillars of the bank is holding yourself accountable for your actions, whatever they may be.”

Mentoring is essential to creating a staff that succeeds, Allen believes. 

“Andy did a great job of mentoring,” he says, “and that’s what I encourage all of our older guys to do: to find two or three young people around them and help mentor them to make them better. 

“That’s the key. If we don’t bring our young folks along, we can’t expect much.”

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